Two roads diverged in a wood, and I,
I took the one less traveled by,
And that has made all the difference.
So ends the famous poem by Robert Frost, “The Road Not Taken.” The difficulties presented to us in the last 4 years have certainly changed our outlook on how we live our lives and how we operate our businesses. At Cox, while our core values and driving principles remain the same as they have for over 50 years, we have evaluated our business model more closely than ever before. We have asked our vendors to evaluate their business models more closely than ever before. We have ultimately made efforts to adapt to the changing business models of our customers and likewise asked them to trust our exploration into new technologies that will prepare us all for the future of our businesses.
In the latest edition of the “Communicator”, (our quarterly newsletter), there are articles on our new customer web portal and details of one of the components of our sustainability initiatives. In addition to these two initiatives, a little further down, you will read about some new preservative systems we have embraced as a part of improving your product offerings. However, these are merely small components of a much larger strategy and set of strategic initiatives we have embarked on during this economic recession. The story is not really in these details; the story is in the architecture behind these details. I would like to delve more into an overview of our key initiatives but first, I would like to talk about our people and secondly, about two new preservatives we believe will improve our residential product offerings.
Cox continues to invest in the ongoing development of our team. We continue our routine training exercises including regular safety briefings, regulatory and licensing compliance and our cross-training initiatives. However, over the last three years, in an abundance of caution, our leadership decided to limit all compensation adjustments to only those employees taking on additional responsibilities. We have not extended salary increases or cost of living adjustments. Fortunately, until recently, the cost of living increase has been miniscule. On top of the sacrifice from our team at large, the executive leadership team volunteered to take reduced salaries as we worked our way through this uncertain economy. Long-term stability and managed risk are of paramount important to our ownership, not for themselves, but rather for the countless number of families that have committed so much of their life to Cox Industries. Our team has been resilient. They have thrived in this environment with an inspired commitment to excellence. This response has prompted the development of a new management development program with its inaugural class that began their program the last week of April. I would tell you more about this program, but I will let one of the participants do so in our next edition. For now, I will simply tell you who is in the program and you can ask them next time you see them. Congratulate Byron Altman (Director of Purchasing-Orangeburg); Pam Bedenbaugh (HR Manager-Orangeburg); Jeremy Byrd (Fleet Manager-Orangeburg); Blake Colston (Industrial Sales-Gulf Coast Region); Alec Mecionis (Inside Sales Manager-Orangeburg); Norwood Morrison (Outside Sales-Northeast Region); Kelly Phillips (Director of Specification Programs); and Mike Rouse (Plant Manager- Leland).
As for the new preservatives mentioned earlier, first, we have altered our fire retardant offering to provide the product you have been asking for and that is a competitively priced product, with an outstanding smoke rating that addresses the code requirements of architects and code officials. D-Blaze produced by Viance meets that menu of objectives. Viance, is ultimately a subsidiary of Dow Chemicals; and therefore, we believe a long-term leader in the development of new preservatives for our industry. We are now also carrying a low to no-metal preservative with one of the most impressive wood stabilizers available on the market. Eco-Life, also produced and distributed by Viance, in our evaluations offers the most stable above ground product in the marketplace. While this added dimensional stability comes at a slight premium, we are firm believers that the appearance of your outdoor project is just as important, as its potential life. We have long sought a product that could provide the durability you have come to expect with the long-term aesthetic appearance you have longed to have. We are also excited that Eco-Life is approved by the American Wood Protection Association (AWPA). The chemical industry has more changes in store for us in the coming years, and we will continue to serve as your advocate by doing our research and determining what we believe to be the best product on the market to meet your requirements.
In closing, the Cox Industries’ team did not “circle the wagons” during this recession by cutting services to our customers or putting off sensible long-term investments. Rather, we embraced the time to delve into our business model and determine how we could emerge a stronger company to better serve the needs of our customers, our community and our Nation. I look forward to hearing from you over the coming months as we roll out these new products and initiatives. Whether you are a customer, vendor or partner, your input and feedback are critical to our planning and our future. You can always contact us on the web at coxwood.com, or on facebook.
It is both an honor and exciting to be an owner/executive in Cox Industries. Despite tough times the company has stuck to it’s values and supported our family of customers, employees and vendors. The innovative thoughts and discussions coming from our education programs will help us all thrive in this current economy. The only way through this is that “road less traveled”!